E-Commerce License In Ajman Free Zone Commences

Today, the Ajman Free Zone Authority (AFZA) embarks on a new license category for electronic commerce enterprises (e-commerce). This effort is to tap the swiftly growing e-commerce sector in GCC by the online business capitalist in the region, facilitated and in partnership with the free zone. Mr. Rishi Somaiya, Sales Director of the Free Zone said on a press release that the establishment of the new license category is in response to the demands of many existing and potential capitalists of the rising online business. “It was inevitable that AFZA offered a cost-effective platform for investors who are keen on online businesses in line with our reputation of facilitating business in the UAE and supporting emerging investors.” Also on a press release, the General Manager, Mr. Mahmood Khalil Al Hashemi that e-commerce license will allow entrepreneurs to influence the development of e-commerce across B2C as well as B2B opportunities. “By offering this new category of license, AFZA is moving with the times with e-commerce transactions surging in the UAE and the region driven by the 72.5 million internet users across MENA and the GCC. Various reports suggest that B2C e-commerce sales alone will be in the range of US$13-15 billion by 2015 in the GCC from the current range of US$3-3.5 billion which is a lucrative opportunity to tap into,” he quoted. AFZA also stated that over 32% progress in the region’s e-commerce with B2C deals is to touch over by 2015 which is approximately US $13 billion productive business opportunity. “There is immense growth potential for e-commerce in the UAE and the GCC with some 42 per cent of the population is reportedly making online transactions. AFZA’s move to offer the e-commerce license will further complement the country’s status as a robust destination for e-commerce ventures,” Al Hashemi added. It has been reported that the United Arab Emirates (UAE) is the supreme in e-commerce industry in the Middle East having the highest number of shoppers that resulted to almost US $2 billion worth of deals online. It is followed by Saudi Arabia, Qatar, Kuwait, Bahrain and Oman.